In unswerving efforts to accelerate growth and promote liquidity in Sub-Saharan Africa’s emerging REITs market, Uzo Oshogwe, MD/CEO, Afriland Properties Plc, joined industry experts, key decision-makers, policy-makers, government officials and private sector players, at the maiden edition of NSE REITs Conference, to discuss the current state of the Real Estate sector and the opportunities inherent in REITs.
The objective was to deliberate and propose changes on deal structuring, capital formation, valuation models, regulatory and tax issues as well as robust risk management framework in the sector.
Discussing one of the many ways to boost returns on REITs during the 3rd panel discussions, she stated that “while REITs have become an increasingly popular vehicle for real estate ownership, maintenance still plays a key role in increasing property value and reducing risk for the owner. Consistent income generation is a major challenge in this part of the world and we need to adopt best property maintenance practices in order to protect and preserve our investments”.
In a keynote address by Honorable Minister of Power, Works and Housing, Babatunde Raji Fashola (SAN), who was represented by Ayo Gbeleyi, former Finace Commissioner, he noted that “as we converge to explore the potential of REITs, investors will base their decisions on returns not loyalty”.
Also on the panel was Adeniyi Adeleye, Executive Director, Stanbic IBTC Capital Limited, who indicated that “clarity on tax rules, accurate assets valuation, transparent financing report and investor engagement are some of the ways to define, clarify and set corporate governance standards in REITs market”.
Other attendees include: Prof. Charles Inyagete: CEO, NMRC, Hakeem Oguniran: MD/CEO, UPDC Plc, Abimbola Ogunbanjo: First VP, NSE, Olanike James: Partner at KPMG, Tolu Sekoni: Investment Principal, Actis, Olumayowa Ogunwemimo: MD, FSDH Assets Management Limited and many more.
The conference was organized by The Nigerian Stock Exchange (NSE), in line with its strategic initiative to promote and create the enabling environment for sustainable development of Real Estate Investment Trusts (REITs) in Nigeria and Sub-Saharan Africa.